There's no question Australia is enjoying the fruits of higher commodity prices but we're not the only ones. Latin America is also benefiting and while much of our focus is on markets in China and India, countries like Chile and Mexico provide investment alternatives.

Australia is already in the process of negotiating a free trade agreement with Chile and the question of just what the region has to offer is the subject of a conference being held in Sydney tomorrow.

One man who spent his professional life analysing Latin America is Chip Brown, the head of economics research at Spain's biggest bank, Santander.